What Is Gap Insurance and How Does It Work? | Progressive Gap insurance is an optional auto insurance coverage that applies if your car is stolen or deemed a total loss When your loan amount is more than your vehicle is worth, gap insurance coverage pays the difference For example, if you owe $25,000 on your loan and your car is only worth $20,000, your gap coverage covers the $5,000 gap, minus your deductible
What Is Gap Insurance? - GEICO Gap insurance is an optional type of car insurance that covers the difference between what you owe on your car loan and the depreciated value of your vehicle if it's totaled, providing financial protection for leased or financed vehicles
What is gap insurance? - Allstate Gap insurance is an optional car insurance coverage that helps pay off your auto loan if your car is totaled or stolen, and you owe more than the car's depreciated value This coverage, sometimes referred to as loan lease gap coverage, is only available if you're the original loan or leaseholder on a new vehicle
Gap Insurance for Cars: Auto Loan Coverage | The Hartford Gap insurance for cars is an optional coverage that helps pay the difference between your car’s actual cash value (ACV) and the amount you owe on your loan If your car is stolen or totaled, gap insurance can provide peace of mind through financial protection